DCIT, CIRCLE- 4(1), GURGAON vs. SHAASTRA SECURITIES TRADING PVT. LTD., GURGAON

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ITA 3748/DEL/2018Status: DisposedITAT Delhi03 August 2021AY 2014-152 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that as per CBDT Circular No. 17/2019, appeals with a tax effect below Rs. 50 lacs are not maintainable. The Revenue could not provide any exceptions to this circular.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). The appeal was filed for the assessment year 2014-15. The tax effect in the departmental appeal was less than Rs. 50 lacs.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the ITAT based on the monetary limit prescribed by CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘B’, NEW DELHI

Before: Sh. Amit ShuklaDr. B. R. R. Kumar

Hearing: 03.08.2021Pronounced: 03.08.2021

Per Amit Shukla, Judicial Member:

1.

The present appeal has been filed by the revenue against the order of the ld. CIT(A)-1, New Delhi, dated 15.03.2018.

2.

As per the instant Circular No. 17/2019 dated 08/08/2019 inforce, the CBDT in supersession of earlier instructions has directed that department’s appeals before ITAT shall not be filed in cases where the tax effect does not exceed the monetary limit of Rs. 50 lacs. The tax will not include any interest thereon. It is further clarified that even if in the case of an assessee, disputed issues arise in more than one assessment year, appeal cannot be filed in respect of such assessment year or years in which the tax effect in respect of disputed issues exceeds the monetary limit so specified.

2 Shaastra Securities Trading Pvt. Ltd. 3. Admittedly, in the departmental appeal, the tax effect is less than Rs. 50 lacs, therefore, departmental appeal is not maintainable. The Ld. DR could not bring to our notice any exceptions mentioned in the said Circular.

4.

In the result, the appeal of the Revenue is dismissed. Order Pronounced in the Open Court on 03/08/2021.

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